The annualized change in the value of condominiums sold each month within the capital. Although the Tokyo Condominium Sales report focuses on a narrow portion of Japan’s housing sector, the figure is timely, coming out just two weeks after the reporting more, and has served as a leading indicator of the direction of the overall housing market. The number is sometimes used to gauge strength in consumer spending.
As a measure of the real estate market, the figure responds quickly to changes in the business cycle, promptly slowing at the onset of a recession and growing at the beginning of an economic boom. Increasing sales are generally bullish for the economy, as they indicate economic growth to come.
The headline figure is the annualized percentage change in Condominium Sales.
Relevance : Rarely affects markets
Release schedule : 4:00 (GMT); monthly, 2 weeks after the reporting period
Revisions schedule : Little or no revisions
Source of report : The Real Estate Economic Institute of Japan
Web Address : http://www.reinet.or.jp/e/index.htm
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